March 12, 2018 / 10:25 AM / in 3 months

BRIEF-Goodrich Petroleum Announces Updated And Accelerated Capital Expenditure Budgets For 2018 And 2019

March 12 (Reuters) - Goodrich Petroleum Corp:

* GOODRICH PETROLEUM ANNOUNCES UPDATED AND ACCELERATED CAPITAL EXPENDITURE BUDGETS FOR 2018 AND 2019

* GOODRICH PETROLEUM - FOR 2018, BOARD APPROVED A $20 MILLION INCREASE TO $85-95 MILLION TO ACCELERATE DEVELOPMENT IN CORE HAYNESVILLE SHALE ACREAGE POSITION

* GOODRICH PETROLEUM CORP - ‍EXPECTS NET PRODUCTION TO GROW THROUGHOUT 2018 WITH ESTIMATED 2018 EXIT RATE OF ABOUT 100,000 MCFE/DAY​

* GOODRICH PETROLEUM - FOR 2019, BOARD APPROVED PRELIMINARY CAPEX BUDGET OF $125 TO $150 MILLION FOR FURTHER DEVELOPMENT OF CORE HAYNESVILLE SHALE ACREAGE

* GOODRICH PETROLEUM - ‍FOR 2019, APPROVED PRELIMINARY CAPEX BUDGET OF $125 MILLION TO $150 MILLION FOR FURTHER DEVELOPMENT OF HAYNESVILLE SHALE ACREAGE​

* GOODRICH PETROLEUM - 2019 NET PRODUCTION FOR CORE HAYNESVILLE SHALE ACREAGE FORECAST TO GROW BY ABOUT 75% OVER ESTIMATED 2018 PRODUCTION

* GOODRICH PETROLEUM - ‍ESTIMATES PER UNIT CASH OPERATING EXPENSES TO CONTINUE DECLINING IN 2019 BY ADDITIONAL 25%-30% VERSUS DECLINES EXPECTED IN 2018​ Source text for Eikon: Further company coverage:

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